Event recap: Firms, Trade, and Development Conference 2024
This year’s conference showcased economic research on topics from digital adoption and migrant networks to environmental and market policies, offering insights into transformative policies for low- and middle-income countries.
How can targeted interventions drive productivity growth in low- and middle-income countries (LMICs)? What roles do environmental regulations, migrant networks, digital technology, and market distortions play in shaping economic outcomes? These were some of the questions explored at the 2024 Firms, Trade, and Development Conference, co-hosted by the Yale Economic Growth Center (EGC) and the International Growth Centre (IGC).
Held on October 24-25, the conference gathered over 100 participants, including economists, policymakers, and industry leaders, to discuss new research on how firms in LMICs respond to market dynamics and the role of policy in fostering growth. This was the second year running that the conference was jointly hosted by EGC and IGC, however unlike last year, this year the event was held in person at Yale. Organized by Penny Goldberg, Amit Khandelwal, Lauren Falcao Bergquist, and Mayara Felix, the conference also featured an Academic Committee with members from MIT, University of Warwick, and Ashoka University.
With notable speakers like Arvind Subramanian (Peterson Institute for International Economics), alongside a policy panel featuring Camilla Sacchetto (Economist, World Bank), Tim Dobermann (IGC Research Director), Abigayle Davidson (ANDE), and Christian Lippitsch (IGC Rwanda), this year’s conference emphasized translating rigorous research into actionable insights.
Russell Morton, an EGC Postdoctoral Associate for the Markets and Development initiative, highlighted recent research trends on firms and development in a pre-conference blog post, emphasizing how workplace improvements and digital tools can drive productivity and broader economic growth.
The 2024 conference showcased diverse themes, from digital adoption and migrant networks to environmental and market policies, offering insights into transformative policies for LMICs.
Thursday, October 24: Understanding market distortions, productivity, and growth
The conference started with discussing the microeconomic foundations of development, focusing on understanding market distortions, economic slack, and productivity growth in LMICs.
The incidence of distortions
David Atkin’s study examines how economic issues like taxes, borrowing limits, and market power reduce efficiency and impact social groups unequally in Chile. Poorer households face higher prices and lower wages, while wealthier ones, often owning businesses, may benefit. This research shows how these distortions not only slow growth but also widen inequality.